
Is Howard Hughes (HHH) stock Halal?
Under AAOIFI Shariah Standard No. 21, a Halal stock keeps non-permissible income below 5% of revenue and interest-bearing debt and investments each below 30% of market capitalisation. Howard Hughes Holdings, Inc. (HHH) does not meet the threshold for the interest-bearing investments and interest-bearing debt screens as of September 2026, so it is not Shariah compliant.
Howard Hughes is a diversified real estate development and management company. Its primary function is the ownership, management, and development of real estate properties across various market sectors, including residential, commercial, and hospitality. The company is renowned for creating master-planned communities that integrate living, working, shopping, and recreational experiences into cohesive environments. Notably, Howard Hughes Holdings plays a significant role in urban development, working on high-profile projects in cities such as Las Vegas, New York, and Houston. For Muslim investors, though, the most pressing question is simpler: is Howard Hughes a Halal investment?
Is Howard Hughes Shariah compliant?
Property itself is a permissible asset, which is why real estate attracts Halal investors. The screening question for Howard Hughes is how the portfolio is financed and whether rental income flows from impermissible tenants; the debt cap and the 5% income ceiling of AAOIFI Shariah Standard No. 21 carry the verdict.
Does Howard Hughes pass the business activity test?
The activity screen is only part of the picture this month: Howard Hughes currently fails the interest-bearing investments and interest-bearing debt screens, so the overall verdict is not compliant regardless of the business itself. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.
Is Howard Hughes' income Halal?
Yes, within AAOIFI's tolerance. Howard Hughes' income from non-permissible sources stays below 5% of revenue in the September 2026 screening.
Does Howard Hughes meet AAOIFI's debt and investment ratio requirements?
No. Both ratios currently breach the 30% caps: interest bearing investments and interest bearing debt each exceed the limit AAOIFI permits for a Halal investment. The ratios move with the share price as well as the balance sheet, and our Shariah Supervisory Board has HHH re-screened every month.
Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.
New to the four screens? Read REITs: Halal Real Estate for Muslim Investors



